KPMG International’s series of global benchmarking studies have charted the evolution of tax departments since 2006. Our 2009 study showed that the tax departments that add the most value to their companies are also the ones that paid most attention to three key areas in conducting their daily activities:
1. ensuring clarity of accountabilities;
2. driving standardization and efficiency; and
3. promoting connectivity with their colleagues across the business through a proactive, outward-reaching tax department.
In 2009, we called this getting the basics right. So, with the current survey, we were keen to see how tax departments have progressed in these areas, especially given ongoing economic uncertainty and continuing regulatory reform.
Based on our analysis of the 2012 survey results and differences from the results in 2009, we found that tax departments are markedly improving in the area of accountability and making some strides forward on standardization and efficiency. However, tax departments still seem to have much more work to do on increasing their connectivity, integration and alignment with other functions.
Here, we summarize the most important findings and insights from the survey. A wealth of additional data and analysis — including supplementary reports for the countries in the survey — is available at www.kpmg.com/goodbetterbest.